Baltimore Life
A 140-year-old, policyholder-owned mutual founded in 1882 and focused on the middle market - offering a declared-rate multi-year guaranteed annuity backed by an AM Best B++ (Good) financial-strength rating.
Financial strength
B++
AM Best
A-
KBRA
Founded 1882
One of the oldest insurers on the platform - founded in 1882 as the Baltimore Mutual Aid Society and headquartered in Owings Mills, Maryland.
Policyholder-owned mutual
A mutual life insurer owned by its policyholders, with no outside shareholders - one of relatively few remaining mutuals.
AM Best B++ (Good)
Carries an AM Best B++ (Good) Financial Strength Rating with a stable outlook - secure, though below the A range - plus an A- Insurance Financial Strength Rating from KBRA.
Middle-market focus
Serves more than 300,000 individuals, families, and businesses, with a consistent middle-income focus rather than affluent or institutional markets.
Single-premium MYGA
Baltimore Life's current annuity lineup is its IQuumulate single-premium deferred annuity - a declared-rate MYGA for guaranteed, tax-deferred growth.
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MYGAs / Fixed Annuities
Selected product: IQumulate Single Premium Deferred Annuity
A fixed annuity group for buyers who want a declared guaranteed rate, principal protection, and tax-deferred growth.
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Explore Baltimore Life products
Baltimore Life’s lineup, grouped by what each product group is built to do. Current rates come from CANNEX via AdvisorWorld and are checked daily.
Multi-Year Guaranteed Annuity
Fixed-rate contracts grouped separately from indexed annuities so guaranteed terms are compared on their own terms.
- Fixed-rate contracts grouped separately from indexed annuities
- Guaranteed term rates and surrender context live on each product page
Best for: Savers who want a declared fixed rate for a set period and a direct path to each product review.
Rates are pulled live from CANNEX via the AdvisorWorld data feed · 2026-07-16. Caps, payout rates, and guaranteed rates vary by state, premium band, and rider election — confirm current terms on each product page.
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Find your fit
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Company overview
What Baltimore Life is
The Baltimore Life Insurance Company, founded in 1882 and headquartered in Owings Mills, Maryland, is a policyholder-owned mutual serving the middle market with life insurance and annuities. It is licensed in 49 states and the District of Columbia and serves more than 300,000 customers.
Checked 2026-06-30 · AnnuityRatesHQ carrier research
Baltimore Life distributes through both its own career-agency force - in Maryland, Pennsylvania, South Carolina, and West Virginia - and a nationwide independent division of agents, agencies, and IMOs, an emphasis on personal, needs-based selling that distinguishes it from carriers relying solely on independent distribution.
Checked 2026-06-30 · AnnuityRatesHQ carrier research
Baltimore Life's annuity lineup centers on IQuumulate Fixed Annuities.
Verified July 2026 · CANNEX Financial Exchanges via AdvisorWorld
Scale, labeled
Founded
1882
Founded as the Baltimore Mutual Aid Society; HQ Owings Mills, Maryland.
Founded 1882 · AnnuityRatesHQ carrier research
Total assets
~$1.3B
Approximately $1.3 billion in total assets as of Dec 31, 2025.
As of Dec 31, 2025 · AnnuityRatesHQ carrier research
Structure
Mutual
Policyholder-owned mutual; licensed in 49 states + D.C.
Checked 2026-06-30 · AnnuityRatesHQ carrier research
Ratings
B++ / A- (KBRA)
AM Best B++ (Good); KBRA A- Insurance Financial Strength Rating.
Checked 2026-06-30 · AnnuityRatesHQ carrier research
History highlights
Founded in 1882 as the Baltimore Mutual Aid Society of Baltimore City, the company began with modest assets and a community-focused mission.
Founded 1882 · AnnuityRatesHQ carrier research
In 1900 it was renamed The Baltimore Life Insurance Company and expanded steadily, eventually building a 12-story home office in Baltimore.
Renamed 1900 · AnnuityRatesHQ carrier research
Over the 20th and 21st centuries the company expanded nationally, today serving more than 300,000 customers across 49 states and D.C. with a middle-market focus.
Checked 2026-06-30 · AnnuityRatesHQ carrier research
A policyholder-owned mutual since 1882
Baltimore Life is a mutual life insurance company - owned by its policyholders rather than public shareholders or private investors.
Checked 2026-06-30 · AnnuityRatesHQ carrier research
That structure supports a long-term orientation toward policyholder obligations rather than outside-investor returns, and has anchored the company through more than 140 years of operation.
Checked 2026-06-30 · AnnuityRatesHQ carrier research
The Baltimore Life Companies group includes Baltimore Life and its subsidiary, Baltimore Financial Brokerage, Inc., which brokers products the carrier does not issue.
Checked 2026-06-30 · AnnuityRatesHQ carrier research
Financial strength
AM Best
B++
Good financial-strength rating with a stable outlook - secure, though below the A range.
Checked 2026-06-30
KBRA
A-
Insurance Financial Strength Rating with a stable outlook (2025).
Checked 2026-06-30
What makes Baltimore Life different
140+ years as a mutual
Founded in 1882 and still policyholder-owned, Baltimore Life is one of the oldest and longest-running mutuals on the platform - a long-term orientation that comes from answering to policyholders rather than shareholders.
Checked 2026-06-30 · AnnuityRatesHQ carrier research
Secure B++ strength, stated plainly
Baltimore Life carries an AM Best B++ (Good) rating with a stable outlook - a secure grade, though below the A range - plus an A- from KBRA. It is a smaller, conservatively run mutual rather than a top-tier national carrier, and we present its strength honestly on that basis.
Checked 2026-06-30 · AnnuityRatesHQ carrier research; AM Best; KBRA
Middle-market specialist
Baltimore Life has consistently focused on middle-income individuals, families, and small businesses rather than the affluent or institutional retirement markets - a deliberate, needs-based niche.
Checked 2026-06-30 · AnnuityRatesHQ carrier research
A single, focused MYGA
Baltimore Life's annuity lineup is the IQuumulate single-premium deferred annuity - a declared-rate MYGA for guaranteed, tax-deferred growth, with the current rate, term, and state availability shown with current values for the product.
Verified July 2026 · CANNEX Financial Exchanges via AdvisorWorld
About Baltimore Life
The Baltimore Life Insurance Company, founded in 1882 and headquartered in Owings Mills, Maryland, is a policyholder-owned mutual that has served the middle market for more than 140 years. It is licensed in 49 states and the District of Columbia and serves over 300,000 customers.
Checked 2026-06-30 · AnnuityRatesHQ carrier research
Baltimore Life carries an AM Best B++ (Good) Financial Strength Rating with a stable outlook, along with an A- from KBRA. It is a smaller, conservatively managed mutual - we describe its strength on those honest terms rather than implying a top-tier grade.
Checked 2026-06-30 · AnnuityRatesHQ carrier research; AM Best; KBRA
Baltimore Life keeps its annuity offering focused on IQuumulate, a single-premium fixed annuity for guaranteed, tax-deferred growth.
Verified July 2026 · CANNEX Financial Exchanges via AdvisorWorld
Free Comparison Report
Get Baltimore Life's current rate report
Compare Baltimore Life's live rates, carrier ratings, and product tradeoffs against alternatives in one personalized report.
Sources
- Baltimore Life corporate site — 2026-06-30
- AnnuityRatesHQ carrier research - Baltimore Life overview, founded 1882, mutual structure, scale (~$1.3B assets Dec 31 2025), ratings (AM Best B++; KBRA A-) — Checked 2026-06-30
- Live product catalog (IQuumulate single-premium deferred annuity, MYGA), rates, terms: CANNEX Financial Exchanges via AdvisorWorld — Verified July 2026